Postal Chief's $384,000 Pay Sparks Call for Cut
CNNMoney.comBy Jennifer Liberto | CNNMoney.com
Postmaster General Patrick Donahoe received a base salary of $271,871 in 2011, according to a November filing by the service with the Securities and Exchange Commission. But he also made another $81,954 in pension and deferred compensation. And he benefited from $30,404 in "other" compensation, including security costs, life insurance premiums, parking and financial planning services...
http://finance.yahoo.com/news/postal-ch … r-cut.html
all the "little people" that do the work are suffering...why is he so special?
Let's see, 300 million people mailing 1 piece of mail a year and considering just the 1 penny increase in postage is $3,000,000.00. So you can extrapolate on the amount of money the PO is pulling in. People tend not to think of it as a government entity. And yours is an example of why the rates keep going up. They can retire after 20 years on the job with full pension so we're supporting non-workers.
Where were all these government agencies -- and I mean federal, state, county and city -- when the private sector abandoned defined benefit pension plans in favor of defined contribution plans?
I just shake my head.
Of all the bureaucrats on the government payroll, did they not have a single ACTUARY running the numbers on life expectancy and future costs?
The US Postal Service hasn't been a government agency since 1971 when Nixon privatized it and rarely receives any federal funds, I think they receive some minimal subsidies occasionally. Recently the Postal Service ended the 2011 fiscal year with a lose of $5.1 billion, that's billion with a "b". They also lost $3.3 billion in the first fiscal quarter of 2012.
http://about.usps.com/news/national-rel … 11_124.htm
http://www.reuters.com/article/2012/02/ … HL20120209
That's way too much for one person. You could put 4 people in there and do 10 times the work and they would be happy working for a 4th of that amount. And you can't tell me he's that smart that he's worth that much. My opinion, Greg
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Former senator Alan Simpson thinks so. I happen not to agree. My mother existed on a small savings account and could not have survived without social security (which she paid into her entire working life.)
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